Free Trial

Argentina Cut To CCC- From CCC By Fitch Ratings

ARGENTINA
  • Fitch Ratings has downgraded Argentina's Long-Term Foreign-Currency (FC) and Local-Currency (LC) Issuer Default Ratings to 'CCC-' from 'CCC'.
  • Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below. Fitch has removed the Long-Term IDRs from Under Criteria Observation (UCO).
  • From the report:
    • "The downgrade of Argentina's FC IDR to 'CCC-' reflects deep macroeconomic imbalances and a highly constrained external liquidity position, which Fitch expects to increasingly undermine repayment capacity as foreign-currency debt service ramps up in the coming years."
  • Link here: https://www.fitchratings.com/research/sovereigns/f...

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.